NG shows weakness and lost momentum !!
NG was very bullish at the start of 2022. This massive Uptrend stopped in June and led to a correction at the 0.618 Fib line.
After that, NG returns to the same old high, respecting the trend line and forming a significant Resistance.
the RSI is showing a considerable divergence as the second high lost momentum to continue pushing higher.
A break of the trend line in the next weeks will signal a huge short opportunity as the price may reach the 0.236 Fib line and if it breaks through the 0.382-Fib line as the second potential target.
After that, NG returns to the same old high, respecting the trend line and forming a significant Resistance.
the RSI is showing a considerable divergence as the second high lost momentum to continue pushing higher.
A break of the trend line in the next weeks will signal a huge short opportunity as the price may reach the 0.236 Fib line and if it breaks through the 0.382-Fib line as the second potential target.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.